Entries Tagged as 'Mortgage & Finance'

Pre-Qualification vs. Pre-Approval

November 23rd, 2013 · No Comments

It’s a good idea to be pre-approved for a mortgage before you begin house hunting.  In fact, many realtors won’t even work with you until you’ve gone through this process.  There is a bit of confusion out there though, about the difference between pre-qualification and pre-approval.  Many times these terms are used interchangeably, but they […]

[Read more →]

Tags: Buyer Tips · Mortgage & Finance

Types of Home Loans

November 21st, 2013 · No Comments

If you’re in the market for a home, chances are high that you are not paying cash for it which means you will need to get a mortgage.  There are two basic types of mortgages, conventional and government sponsored. Conventional mortgages are come in two basic varieties, fixed rate mortgages (FRM) and Adjustable Rate Mortgages […]

[Read more →]

Tags: Mortgage & Finance

Down Payment Advice

November 8th, 2013 · No Comments

It’s always best to put 20% (or more) down on a mortgage when you are buying a home.  The main reason for this is so that you can avoid private mortgage insurance (PMI) payments.  PMI costs you a percentage of your mortgage depending on how close your down payment was to 20%.  At first glance […]

[Read more →]

Tags: Buyer Tips · Mortgage & Finance

Home Prices Are Up

August 12th, 2013 · No Comments

Home prices have appreciated just over 10% in the past twelve months, which is great news for current sellers!  This is actually the first time home prices have appreciated into the double digits percentage wise in seven years.  According to a report accounting for 80% of the US housing market, appreciation is expected to drop […]

[Read more →]

Tags: Mortgage & Finance

Mortgage Rates Are Rising

August 6th, 2013 · No Comments

The average mortgage rate dropped to an all time low of 3.3% in 2012, and is now rising rapidly.  In June, mortgage rates in the US averaged 4.35%, but for those interested in buying, even though mortgages are at the highest rate in two years, they are still a great deal.  Economists estimate that these […]

[Read more →]

Tags: Mortgage & Finance

3 Rules For Flipping A House

May 23rd, 2013 · No Comments

The idea of flipping a home is less popular now than it was a decade ago, but it’s still out there.  If flipping a home is something you’ve ever thought of, here are three tips for you: 1.  Remember the 70% rule.  In order to profit from your purchase, take the price that the home will […]

[Read more →]

Tags: Home Projects · Mortgage & Finance

Consider a 15 Year Mortgage

May 21st, 2013 · No Comments

When you are buying a home, the industry standard is a 30-year mortgage.  However, if you can swing it there are definite advantages to a 15 year mortgage instead.  The biggest benefit of a fifteen-year mortgage is, of course, that you pay your home off in half the time and wind up saving a lot […]

[Read more →]

Tags: Mortgage & Finance

Reasons to Consider Refinancing

May 6th, 2013 · No Comments

With interest rates still low and likely to rise this year, now is a good time to refinance if you bought your home more than a couple of years ago.  Keep in mind, however, that most institutions have stringent refinancing criteria, so it may not be worth it unless you can refinance for a full […]

[Read more →]

Tags: Mortgage & Finance

Financial Tips

February 19th, 2013 · No Comments

When you are in the market for a new home you are prepared to spend a huge chunk of money, but just because the bank offers you a $400,000 mortgage doesn’t mean that it is wise for you to take the full amount.  Generally speaking, you should take at least 20% less than the bank […]

[Read more →]

Tags: Buyer Tips · Mortgage & Finance

Paying Off Your Mortgage Early – Yes or No?

February 4th, 2013 · No Comments

Paying down your mortgage early is a great thing to do, and can be considered a good investment for many homeowners.  I, myself, am not a financial advisor, but I have culled several interesting articles that outline the pros and cons of paying off your mortgage early from several finance and real estate experts.  First, […]

[Read more →]

Tags: Mortgage & Finance